BMO Capital analyst Evan Seigerman keeps an Outperform rating and $385 price target on Vertex Pharmaceuticals after the company disclosed updated data for six T1D patients treated with VX-880 in Part A/B of Phase 1/2 trial that showed treatment benefit, including endogenous insulin secretion, improved glycemic control, and endogenous insulin reduction/elimination. The data could allow investors to get comfortable with Vertex’s T1D program, although BMO prefers more clarity on path to commercialization given nuance of T1D cell therapy, the analyst tells investors in a research note.
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